Sector performance: from March 7 to March 11, the market index rose or fell by – 4.12%, and the food and beverage index rose or fell by – 2.06%, ranking fourth among the 28 sub industries The first three sectors showed a rise of -0.64% in the Baijiu sector, while the preprocessed food sector rose by -1.55%, and the meat sector increased by 3.08%. The top three stocks rose were golden seed (+ 33.83%), Qinghai Spring Medicinal Resources Technology Co.Ltd(600381) (+ 12.8%), Shandong Delisi Food Co.Ltd(002330) (+ 11.51%).
The top three declines of individual stocks were Chacha Food Company Limited(002557) (- 13.88%), Sirio Pharma Co.Ltd(300791) (- 13.87%), Toly Bread Co.Ltd(603866) (- 11.32%).
Key points of individual stocks: [ Kweichow Moutai Co.Ltd(600519) ] on March 8, the company announced the main operating data from January to February 2022. From January to February 2022, the company achieved a total operating revenue of about 20.2 billion yuan, a year-on-year increase of about 20%, and a net profit attributable to the parent company of about 10.2 billion yuan, a year-on-year increase of about 20%. The parent company reported a year-on-year increase of about RMB 1.05 billion, with a year-on-year increase of about RMB 1.03 billion, mainly attributable to the parent company’s net profit of about RMB 1.03 billion. Inner Mongolia Yili Industrial Group Co.Ltd(600887)
On March 11, the company announced the main operating data from January to February 2022. The company achieved a total operating revenue of about 21.5 billion yuan, a year-on-year increase of more than 15%, and a total profit of about 3.3 billion yuan, a year-on-year increase of more than 20%.
[ Luzhou Laojiao Co.Ltd(000568) ] on March 12, the company announced that in 2021, the company achieved a total operating revenue of 20.384 billion yuan, a year-on-year increase of 22.4%, and the net profit attributable to the parent company was 7.849 billion yuan, a year-on-year increase of 30.7%.
Industry observation: 1. According to the data of huachu.com quoted by the securities times Baijia, the bidding transaction of the second batch of central reserve frozen pork in 2022 was 38000 tons. 2. According to the data of China Sugar Industry Association quoted by Huitong finance and economics, the sugar cane factory fully entered the peak production season in 2021 / 22. By the end of February 2022, the country has produced 7.18 million tons of sugar and sold 2.73 million tons of sugar in this sugar making period, with a cumulative sugar sales rate of 38.04%. The cumulative average sales price of finished sugar of industrial enterprises is 5735 yuan / ton; In February, the average selling price of finished sugar was 5679 yuan / ton.
This week’s viewpoint: we suggest that we should pay attention to two main lines: first, the steady growth of Baijiu sector, focusing on high-end Kweichow Moutai Co.Ltd(600519) , Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) , sub high end Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) , Anhui Gujing Distillery Company Limited(000596) , Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) , Shede Spirits Co.Ltd(600702) , Anhui Kouzi Distillery Co.Ltd(603589) , Sichuan Swellfun Co.Ltd(600779) and Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) ; Second, for the dairy industry whose profitability is expected to improve, pay attention to Inner Mongolia Yili Industrial Group Co.Ltd(600887) .
Tracking the cost data of popular products: (1) fresh milk: on March 2, 2022, the average price of fresh milk in China was 4.21 yuan / kg, a month on month decrease of 0.71% and a year-on-year decrease of 1.86%. (2) Palm oil: the average price this week was 1377967 yuan / ton, a month on month decrease of 0.51% and a year-on-year increase of 185%. (3) Soybeans: on February 28, the market price was 552440 yuan / ton, a month on month decrease of 0.11% and a year-on-year increase of 2.66%. (4) Soybean meal: the average price this week was 492451 yuan / ton, up 4.09% month on month and 38.34% year-on-year. (5) Wheat: the average price this week was 319578 yuan / ton, up 1.95% month on month and 23.44% year-on-year. (6) Pork: the average price this week was 18.34 yuan / kg, down 0.86% month on month and 51.99% year-on-year. (7) White feather broiler: the average price this week was 7.81 yuan / kg, up 6.11% month on month and down 15.11% year on year. (8) Glass index: the average closing price this week was 197813, up 2.55% month on month and down 1.39% year on year. (9) Polyester bottle chips: the average market price in East China market this week was 8600 yuan / ton, up 6.17% month on month and 24.28% year-on-year. (10) Corrugated paper: on December 31, 2021, the market price was 437980 yuan / ton, with a month on month decrease of 3.36% and a year-on-year increase of 16.6%. (all the above have been updated to the latest data)
Risk tip: economic growth slows down, raw material costs rise, and food safety issues.
